Sanctuary Advisors LLC Sells 3,353 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Sanctuary Advisors LLC lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 46.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,886 shares of the casino operator’s stock after selling 3,353 shares during the period. Sanctuary Advisors LLC’s holdings in Wynn Resorts were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its position in shares of Wynn Resorts by 618.3% in the third quarter. Sunbelt Securities Inc. now owns 2,672 shares of the casino operator’s stock valued at $256,000 after purchasing an additional 2,300 shares during the period. Chiron Investment Management LLC bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $850,000. First Dallas Securities Inc. raised its position in shares of Wynn Resorts by 124.4% in the third quarter. First Dallas Securities Inc. now owns 52,406 shares of the casino operator’s stock valued at $5,025,000 after purchasing an additional 29,055 shares during the period. Geode Capital Management LLC raised its position in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after purchasing an additional 34,907 shares during the period. Finally, M&T Bank Corp raised its position in shares of Wynn Resorts by 8.7% in the third quarter. M&T Bank Corp now owns 4,358 shares of the casino operator’s stock valued at $418,000 after purchasing an additional 348 shares during the period. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WYNN shares. Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Performance

WYNN opened at $88.68 on Friday. The firm has a market cap of $9.74 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business’s fifty day moving average is $92.36 and its 200-day moving average is $87.59.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. On average, research analysts predict that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.